Bitcoin Cash set to be the next huge cryptocurrency boom
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Has bitcoin finally hit the ceiling many have predicted it would? It has been a dramatic few days for bitcoin. On Wednesday, a major software upgrade for the technology was suspended after an influential group of bitcoin developers and investors said it could "divide the community.
The bitcoin network has struggled to cope with rapidly increasing demand and the upgrade was aimed primarily at dealing with that issue. However, it would also have changed Bitcoin's rules and effectively created a second cryptocurrency, a contentious move among many, hence the "split community" rhetoric.
That news initially prompted an upward surge in bitcoin's value but other factors are likely to have influenced the fall of the last two days.
Cryptocurrency market keeps investors obsessed. BaFin, Germany's top financial regulator, earlier this week issued an investor warning on initial coin offerings ICOsa controversial fund-raising system strongly associated with cryptocurrencies such as bitcoin. Investors should be wary of the "numerous risks" involved in token sales, including "the possibility of losing their investment completely," BaFin said. Bitcoin is also grappling with other future uncertainties. The Chicago Mercantile Exchange CMEthe world's largest futures exchange, announced recently that it is launching bitcoin futures by the end of the year, a move that would firmly bring bitcoin towards the financial mainstream as it would also likely prompt an exchange-traded fund ETF of the cryptocurrency on to stock exchanges.
If approval for the move was turned down, it would have an obvious impact on bitcoin's future prospects. While fluctuations are an established part of bitcoin's current image, many of the most recent developments are aimed at curbing its price volatility and making it a more stable resource. Since its founding inbitcoin has come a long way and has paved the path for other cryptocurrencies.
Initially the preserve of a tiny group of enthusiasts and subject to much doubt within the established financial world, cryptocurrencies and other digital asset services are now a major part of financial investingwith an entire industry having emerged around the often misunderstood digital asset system.
But can the virtual currency sustain its record run amid increasing government regulation? Shrugging off fears of a possible price crash, the cryptocurrency has reached another record high. Despite climbing more than percent in a year, institutional investors remain skeptical about its prospects.
Top Wall Street bank Goldman Sachs is considering launching a trading operation in bitcoins possibly pushing the digital currency into the mainstream. It would be the first big bank to do so. With new coins released daily, the heated cryptocurrency market has finally gained the attention of US regulators.
Yet with all the adrenal highs and lows, it continues to challenge the rules of investment. Regulators have denied an application to allow an exchange traded fund for the cryptocurrency. This was the latest setback for the well-known Winklevoss brothers, who had a similar application denied four years ago. Vietnam has launched an investigation into a multi-million-dollar cryptocurrency scam, ordering a crackdown on trading in the highly-popular iFan and Pincoin digital currencies in its lightly regulated market.
Blockchain can trace everything from green supply chains to emissions cuts, enable green energy trading and convert plastic waste into cash. A host of initiatives and start-ups are getting in on the technology. What goes up must come down, old wisdom has decreed.
Does it apply to the best-known digital token, Bitcoin? As the cryptocurrency's value has seen many ups and downs recently, we chart its dramatic journey to date. Germany substantially raises tax income projections - Lufthansa set to impress at shareholders meeting.
Germany has seen a significant spike in supporters of the anti-state Reichsburger movement. The AfD politicians refused to take any questions from a journalist from Germany's most popular tabloid.
The far-right party has repeatedly accused the press of biased coverage. Belgian politicians and animal rights activists have slammed the gassing of 20, chicks at Brussels airport. The animals were meant to be flown to Kinshasa. Airport firefighters refused to take part in the killing. Change it here DW. COM has chosen English as your language setting. COM in 30 languages. News German President Steinmeier notes 'substantial change' in trans-Atlantic ties What to expect from the Russian president's next term Business Bitcoin value falls dramatically in 48 hours Has bitcoin finally hit the ceiling many have predicted it would?
Don't divide, and conquer? Share What is a cryptocurrency? What is a cryptocurrency? Trading in bitcoins may be coming soon to Goldman Sachs Top Wall Street bank Goldman Sachs is considering launching a trading operation in bitcoins possibly pushing the digital currency into the mainstream. Cryptocurrency market keeps investors obsessed With new coins released daily, the heated cryptocurrency market has finally gained the attention of US regulators.
Winklevoss twins lose bid to make bitcoin mainstream Regulators have denied an application to allow an exchange traded fund for the cryptocurrency. Send us your feedback. Print Print this page Permalink http: The week in review. Germany's Reichsburger movement out to 'delegitimize the state'. Journalists walkout after Germany's far-right AfD blocks reporter's question. Gassing of baby chicks at Brussels airport sparks outrage.
